Mitsubishi UFJ Asset Management Co. Ltd. Buys 21,124 Shares of Elevance Health, Inc. $ELV

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 455,011 shares of the company’s stock after buying an additional 21,124 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Elevance Health worth $147,023,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Evergreen Wealth Management LLC increased its position in Elevance Health by 33.5% in the 3rd quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after acquiring an additional 4,336 shares during the period. Blume Capital Management Inc. grew its stake in shares of Elevance Health by 236.7% in the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after purchasing an additional 4,320 shares during the last quarter. Canoe Financial LP increased its holdings in Elevance Health by 18.1% in the third quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after purchasing an additional 59,743 shares during the period. Synergy Asset Management LLC increased its holdings in Elevance Health by 100.0% in the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after purchasing an additional 52,167 shares during the period. Finally, Delta Investment Management LLC bought a new position in Elevance Health during the 3rd quarter worth $7,629,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $332.00 price target on shares of Elevance Health in a research report on Thursday, January 29th. Barclays reduced their target price on Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Morgan Stanley lowered their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Price Performance

Elevance Health stock opened at $322.94 on Friday. The stock has a market capitalization of $71.28 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.83 and a beta of 0.50. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The stock’s 50 day moving average price is $350.62 and its two-hundred day moving average price is $335.19.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The company had revenue of $49.31 billion during the quarter, compared to analyst estimates of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. Elevance Health’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 27.23%.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.